Trust buys Brentwood Lodge Retirement Village

In August Prime Retirement & Aged Care Property Trust, which recently listed on the stock exchange, announced that it had bought Brentwood Lodge at Kincumber for an undisclosed sum.

Established in the early 1970s by John Klumper, Brentwood Village comprises 598 units and is the latest in a string of Central Coast retirement villages to be sold over the past two years.
A massive consolidation of resident funded retirement villages across Australia has seen the Central Coast’s leading retirement villages bought up by investment funds seeing investment opportunities from a fast growing ageing population.
In late 2006 Australia’s leading retirement village developer, Glen Group sold its Central Coast villages that included; Tarragal Glen, Woodglen, Glengara, and Forresters Glen to the AMP Meridien property fund for a reported $180 million.
Earlier, in 2005, the Henry Kendall Group which developed and operated Henry Kendall Village at Wyoming and two others on the NSW South Coast and Lake Macquarie sold out to Primelife, a market listed operator of retirement accommodation, for an undisclosed sum.

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